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Re: balance_builder post# 13470

Monday, 11/14/2005 2:36:38 PM

Monday, November 14, 2005 2:36:38 PM

Post# of 353582
Balance, thank you for that post. That is very similar to how I read into the information we do have about Noble's departure.

Although, I don't consider it good news that they left, I feel there were reasons other than ERHE being bad. I think they may have not liked being tied up to the other Nigerian company or the other company wanted to be "carried to first oil" like ERHE but they had nothing to offer (ERHE bonus free rights) in exchange.

The other possibility that I think may still come out is what ERHE's relationship has grown to with Pioneer. If, in fact, ERHE and Pioneer strike some kind of buy in deal, then Noble may not want to partner with ERHE/Pioneer. I think that some of the allure for Noble and Pioneer to partner with ERHE in the JDZ is the potential for being a bigger beneficiary of ERHE rights to the STP EEZ 100% blocks. ERHE may have been dangling that as part of the payoff for working with ERHE or carrying them to first oil in the JDZ. If Noble found out that Pioneer was doing some kind of buy in of ERHE then they would know that their chances of participation with ERHE 100% blocks of the EEZ would be gone.

Part of the intrigue of this stock is to participate in the wild business transactions/games being played out by Big Money people (Offor and his Billions), Politics (Nigerian political clout), Power (world energy resources), and the HUGE and powerful oil companies. I guess we will have to wait a little longer for the true details to come out.

Good luck to all,


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